World's Third Largest Economy: India to Beat Japan
By siliconindia   |   Wednesday, 21 September 2011, 01:05 IST   |    19 Comments
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India weathered the recent global financial crisis well, and since mid-2009 domestic demand has powered a vigorous recovery. The country's growth rate remains among the strongest in the world. A bigger economy would only mean more clout in International forums. All this while India was a recipient of foreign aid, but now they come together with countries like Russia, China and Brazil to raise funds that will stabilize the economies of the Euro zone.
global financial crisis
The increasing economy has made many companies have eyed the Indian market as the country of opportunities. It is a well know fact that most of the Indians are returning to their homeland to explore new avenues as the economy has widened and has improved the trends in India. Globally, companies have their eyes set on India as a rapidly growing nation that is full of opportunities. The sheer scale of development needed could drive growth for many years. "India has the advantage of size. The scope of growth and excess capacity present in terms of resources would drive growth in the future," said Madan Sabnavis, chief economist at ratings firm Care.